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Golden World International Market
| traded_as = PSE: GWI (JCF 225 Component) | foundation = (as Good Luck Mart) (as Golden World) | location = Bougainville Plaza 8441 Catherine Way Little Gibraltar, Channel Islands, Sierra | locations = 311 | founder = François Pierre-Cheng | area_served = Anglo-America | coordinates = | key_people = * Kendall Fong * }} | industry = ( ) | products = | services = | revenue = $87.2 billion (2016) | operating_income = | net_income = $932.1 million (2016) | assets = $21.7 billion (2016) | equity = $5.3 billion (2016) | owner = | num_employees = 63,000 | divisions = | subsid = Happy Mart ·''' XYZ Supermarkets | slogan = | homepage = goldenworld.com | footnotes = }} '''Golden World International Market, Inc. (also simply known as Golden World or Gold Mart, : 黃金市場) is an Asian Sierran chain, and is a component of the JCF 225 Index. Founded by Channelier-Chinese entrepreneur François Pierre-Cheng, the company is headquartered in Little Gibraltar, Channel Islands, and was originally founded as Good Luck Mart in 1963 when its first store opened in the city of Avalon. It is the largest Asian retailer in Sierra, and is the fourth largest retail company based in Sierra. As of September 2016, it employs over 63,000 and operates 311 supermarkets in Sierra, Rainier, Brazoria, , Missouri, the United Commonwealth, and Dixie. It is originally conceived by founder François Pierre-Cheng, who wanted to provide affordable, quality produce and groceries to Asian-Sierran families, while also selling Anglo-American products as a consumer-inclusive marketplace. Pierre-Cheng successfully capitalized on creating stores located in predominantly Asian neighborhoods, and frequently opened stores alongside other Asian-owned businesses at local s. In addition to providing groceries, many Good Luck Mart stores featured in-store restaurants, insurance broker stores, travel agencies, pharmacies, and small health clinics. Pierre-Cheng expanded operations into the Sierran mainland, opening his first store in , Gold Coast in 1969. Over the next 20 years, Lucky Mart spread throughout the Southwest Corridor, and by 1988, when the company was renamed as Golden World International Market, there were already over 50 locations. Some locations have since diversified, selling technology, furniture, and gas, and the company introduced the "Lucky Points" system, allowing shoppers to pay an annual subscription-based fee in order to purchase rarer items, and access to exclusive services, including discounted vacations. Originally carrying predominantly Chinese products, and servicing to Mandarin-speaking Chinese, Golden World has since broadened its stock and market focus, selling Vietnamese, Korean, Japanese, Han, and Thai products and services, with stores based around the general ethnic markup around a particular location. In addition to having a strong consumer base, Golden World has emphasized on maintaining a strong relationship with its employees. The average starting wage Golden World pays is $10.50 per hour, higher than most federally and provincially mandated minimum wages. The majority of Golden World's employees are , and are represented by the Allied Commercial Retailers Union (ACRU). History In 1963, François Pierre-Cheng, a Channelier-Chinese businessman, who owned several Asian-themed restaurants and stores purchased a former warehouse from the Avalon Holdings Company in Avalon, and refurnished the warehouse to become a supermarket known as Lucky Mart. Pierre-Cheng envisioned an accessible Asian market which would cater to the Channels' Asian community, in particular, the Chinese, and desired to do so with affordable pricing, and efficient service. In addition, he noticed how many on the islands typically could not speak French or English, and especially among the elderly, and noticed that this led to difficulties in obtaining basic services from dental care to getting insurance. In order to mitigate this, he formed partnerships with local Chinese-speaking professionals who were willing to relocate their businesses next to Pierre-Cheng's Lucky Mart. Growth Locations Store layout Chains Private brands Services Controversy See also *Economy of Sierra Category:Kingdom of Sierra Category:Companies of Sierra Category:Economy of Sierra